Friday, October 3, 2014

Opened Short SA

SA broke out of consolidation to the downside. I entered a short position at $7.75 . This is essentially a mono burst setup to the short side.  What I like about it is that the 10MA held... The 10 has tracked the move both to the upside and the down side really well.  based on prior history a multi-week 15-20% move is possible if not likely.

Entry: 7.75
Stop: 8.07
Target 6.75- 7.05

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